Guideline Value for Nagappan Road

Nagappan Road guideline value

The current guideline value of Nagappan Road in Nemilicherry village is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office, and the land classification is Residential Class II Type - I.

How the guideline value of Nagappan Road has changed

Over the years, the guideline value of Nagappan Road has seen significant changes. The earliest recorded value was Rs 250 per sq.ft in 2007, which then surged to Rs 2,000 per sq.ft in 2012. However, it experienced a decrease to Rs 1,340 per sq.ft in 2017. Following this, the value rose again to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,160 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2007 to 2024, the overall increase in the guideline value is a remarkable 764%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Nemilicherry

Nemilicherry comprises 172 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for the area is Rs 2,160 per sq.ft, which is the same as the current guideline value for Nagappan Road.

• Mylarasu Nagar: Rs 2,750 per sq.ft (2024)
• Muthuswamy Nagar: Rs 2,160 per sq.ft (2024)
• Nanmangalam Road: Rs 2,420 per sq.ft (2024)
• Muthalamman Koil Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 1st Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 2nd Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Nagappan Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty is charged at 7%, which would be Rs 1,51,200, and the registration fee is at 2%, amounting to Rs 43,200. Therefore, the total cost for stamp duty and registration fee would be Rs 1,94,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagappan Road?

The Nagappan Road falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Nemilicherry

The guideline value plays a crucial role in property transactions in Nemilicherry. It is used to determine the stamp duty and registration fees that must be paid during the registration of property sales. Buyers and sellers should be aware that the guideline value is a legally recognized value that helps ensure transparency in property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nagappan Road?

The current guideline value of Nagappan Road is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, marking an overall increase of 764% over this period.

What are the stamp duty and registration fees for properties on Nagappan Road?

For a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200, and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Which office handles registrations for Nagappan Road?

The Pallavaram Sub Registrar Office handles registrations for Nagappan Road, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification of Nagappan Road?

Nagappan Road is classified as Residential Class II Type - I, indicating its suitability for residential development.